Global Manufacturing Contracts for Fifth Consecutive Month

The downturn in the global manufacturing sector moderated in October. The JPMorgan Global Manufacturing PMI™ — a composite index produced by JPMorgan and Markit in association with ISM and IFPSM — rose for the second month running to reach 49.2, its highest reading during the current five-month period of contraction.

The sector continued to report declining volumes of production and new orders, although rates of contraction were slower than in the previous month.